Retail Business Loans

The Wise, Fast & Transparent Solution for your business.

Want Flexibility? Then You Need Retail Funding.

Retail Business Loans

Do you need retail funding for new display fixtures, employees, or inventory? We have the retail store financing and retail lending tools you need to grow. Compare retail business loans with Upwise.

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What is a Retail Business Loan?

A retail business loan is a loan specifically intended for business purposes. A retail business loan gives you the needed capital to pay for inventory, retail equipment, back taxes, hiring new employees, overhead, or payroll for retail businesses. Also, these loans depending on the lender allow for flexible payments for example daily, weekly, and in some cases monthly options. When you have clients who need to get paid but won’t sell your stock for a while, this can be the much-needed support for retail business owners to help you effectively manage your stream of income.

Retail Business Loans: How They Can Help You​

The financial side of running a retail store can be one of the most difficult tasks of a retail business. Whether you’re a brick-and-mortar store or an e-commerce seller, we understand that businesses need support. It might seem overwhelming to manage your income through unexpected ups and downs. That’s where funding can help.  

Open a New Location or Upgrade Your Store Fixtures

If you are a small business owner looking to remodel your store or open a new location, then you may be interested in a real estate business loan to finance your renovation project or purchase your investment.  Additionally, if you need business financing for equipment, see our financing and leasing options.

What can a Retail Loan be used for?

New Retail Equipment

  • You can use a small retail equipment loan to buy new equipment, fixtures, and displays
  • Use equipment leasing and financing to purchase all types of retail equipment to improve customer experience

Hire More Staff

  • With retail business financing, you can address the need for hiring more staff during busy times of the year
  • Apart from financing hiring, you may also use the capital from a store loan for training costs and payroll to keep your employees happy

Purchase New Inventory

  • Importantly, varying sales can deplete inventory and impact customer satisfaction not having the right sizes
  • Retail business inventory financing can be taken advantage of to purchase inventory which will, in turn, drive up sales, which can increase your wholesale purchasing power for merchandise

Marketing & Advertising

  • Use a store loan to advertise and grow your customer base or promote a new store location
  • Build or optimize your website, add new signage, or place a magazine or newspaper ad to generate new customers

Manage Cash Flow

  • Maintain your capital cash flow to manage expenses when experiencing unforeseen store issues
  • Utilize a store inventory financing loan to stock your store with the newest, highly sought after merchandise

Seasonality

  • Put yourself ahead of the competition using a retail business loan throughout the different seasons
  • Have the extra funds to acquire seasonal and holiday merchandise in advance to meet your customer’s demand

Best Retail Business Loan Options

Inventory Financing

Inventory financing can be a great option for retail business loans, especially if you need the funds to purchase new merchandise. Many retailers we come across need to stock up on inventory going into a busy season, such as a holiday or back-to-school season to have access to this form of lending can make or break a business.  For instance, small business owners will buy way in advance to ensure they have enough inventory to meet the demand of the busy seasons. Retail business inventory financing is a popular choice amongst small businesses of all kinds.

Working Capital

The Retail Industry has unique challenges when it comes to managing your income and working capital. Undoubtedly, staffing, payroll, receivables, and collections are some of the issues we see retailers face. Therefore, you can use a working capital loan to bridge the gap between the time you receive payment and meeting your capital needs.  Working capital loans provide a fixed amount of money, with a fixed cost which is paid back over a term of 3-18 months.

Equipment Financing

An equipment financing loan can be a great option for a retail business loan, especially if you are looking to lease or finance new fixtures or displays. Many retailers utilize new displays and equipment in order to show off their goods to give the best shopping experience. Therefore, a new piece of equipment can certainly have a huge impact on the growth of the business. Small business loans for store equipment are usually structured as a lease to purchase or a fixed-term loan.

Term Loan

business term loan is another great option for retail industry companies. Term loans are meant for established retailers. In other words, those that are showing a profit on their most recent tax returns, have been in business for at least 2 years, and have a good personal credit score. The proceeds from these types of retail business loans can be used for a multitude of business purposes such as marketing, expansion, or remodeling. Typically, a term loan has a fixed interest rate with a term from 1 to 7 years.

SBA Loan

A Small Business Administration loan or SBA Loan is a loan guaranteed by the Small Business Administration. On the contrary, the SBA is not the lender, but they do guarantee the loan through an approved SBA lender.  Even so, an SBA loan is a highly desirable financing product with low-interest rates, however, the process is long with many paperwork requirements and high credit standards. See how an SBA 7 A loan or SBA 504 loan can help you. 

Business Line of Credit

Upwise offers a true revolving line of credit with no hidden fees. A business line of credit works similarly to a credit card. Small business owners can draw on the credit line and borrow cash for expenses. The interest rates are only charged on a monthly basis and only pay interest on the amount that you draw. As you pay the money back, you’ll have access to draw on those funds again. A business line of credit is one of the best financing options for retail business owners. 7 A loan or SBA 504 loan can help you. 

Types of Retail Companies We Serve

We offer retail business loans to a wide range of industries and companies.  Here are some of the retail businesses & industries we’ve worked with:

How to Apply for a Retail Business Loan?

You can apply for small business loans for retail stores through Upwise Capital, we make the application process very simple for you. Simply visit our online application here or call us directly to apply over the phone at (646)837-5522.  

The amount of paperwork required for your application will depend on the product you are interested in or what your business will qualify for.

Step 1: Choose the right product for your retail business
  • The first step is choosing the best financing options that most align with your business needs. Consider what you’re using the money for. Are you covering a short-term or long-term cost? Are you leasing new equipment or factoring receivables? We can assist you with choosing the best product for your needs, just give us a quick call at 646-837-5522.
Step 2: Gather & Submit Your Documents

Secondly, here is a list of documents required for most retail loan types:

  • Driver’s license
  • Voided business check
  • Bank statements from the past three months
  • Invoice for equipment (for Equipment Financing)
  • Credit card processing statements from the past three months (for Merchant Cash Advance)
  • Accounts Receivable Aging Report (for Accounts Receivable Factoring)
  • Accounts Receivable (for Accounts Receivable Factoring)
  • Debt Schedule (for Accounts Receivable Factoring)
Step 3: Fill Out an Application
  • Third, you can begin the application by filling out our online application or calling us directly.
Step 4: Speak to an Upwise representative
  • In the fourth step, once you’ve submitted your application, an Upwise representative will reach out to learn more about your business and explain your available options. Here we will go inform you of the repayment structures, rates, terms, and conditions. This way, you won’t have to worry about any hidden fees during the closing or repayment process.
Step 5: Receive your Approval
  • Last but not least, if and when you’re approved for funding, you will be presented with an offer and approval.  If you agree to the terms and conditions, you will receive a funding contract.  

Why Upwise for Retail Lending

How Fast Can I Receive Retail Funding?

This will depend on the product you are applying for. We have issued retail store loans within 24 hours, as quickly as the same day. The faster you provide us with the necessary documents, the quicker we can move on our end to expedite the process for you.  

Approximate time for each product

Funds from retail loans such as business term loans, lines of credit, working capital loans, equipment financing, merchant cash advance, account receivable factoring, and revenue-based business loans should appear in your bank account within 1-3 business days. For SBA loans and real estate financing, it can take up to 2-5 weeks to receive funds.

Pros and Cons of Retail Business Loans

PROS

Retail businesses grow by taking on risks to expand and increase their revenue and bottom line. Thanks to retail loans, you can say “yes” when your cash flow would otherwise force you to say “no.” In other words, you don’t have to let expenses pile up, long gaps between compensation, or delays with payroll.

Cash flow shortages can make it difficult to retain high-quality employees and build loyalty. This is one of the biggest challenges of retail businesses. Retail store loans ensure that you’re always able to pay your employees on time, even when projects get delayed. After all, a larger team allows you to take on larger projects.

CONS

Although there are many advantages to getting retail stores loans, many small businesses don’t want to get themselves into too much debt by borrowing more money than they need. As stated previously, receivables in the retail industry can be inconsistent. With so many factors out of your control, it’s therefore tough to predict how busy you will be. Clearly, adding a loan payment to the mix might do more harm than good in some cases.

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If I Already Have a Loan Can I Still Apply for Retail Funding?

Yes, even if you have another loan with a bank or lender, your business may still indeed be eligible. As long as you have not defaulted, have a good payment history and underwriting determines that your business can afford to pay back the loan, you can still qualify for a retail business loan. 

Is it hard to qualify for retail lending?

Importantly, this will depend on what type of retail business loan you are applying for. For example, an SBA loan is a lot harder to get approved for rather than an equipment financing loan. However, here at Upwise we offer a variety of loan options for you to choose from.  In addition to this, each type of retail financing loan has different qualifications so that you can find the best solution that works for you. To ensure you can get qualified and get the best interest rates and terms, you’ll want to have all your finances in order. See below the documents you’ll need to apply.

What are the rates for a retail business loan?

The rates and terms depend on a wide range of factors that determine your business’ risk score. This includes the product you’re applying for, how long you’ve been in business, credit history, what you’re using the money for, revenue & other financial factors.  To determine which retail business loan is the best fit for your business, speak with a dedicated funding advisor to discuss your needs. Call (646)837-5522 today to compare your options.

See below, we go over the best financing options for retailers:  

If I Have Bad Credit Can I Apply for a Retail Business Loan?

Yes, even if you have a bad credit history, there are funding options available to you. At this time, short-term loans, working capital, equipment financing, and invoice financing are great options for those with less than average FICO scores.  

You don’t need entirely consistent cash flow, a substantial bank balance, or excellent personal credit to be approved. You can still get funded in a matter of days, even if the majority of your operating capital is spoken for.

How to Qualify for Retail Store Financing?

What your retail business qualifies for, will depend on the product you apply for. Newer, less-established businesses might be able to qualify, even with a short time in business. SBA Loans and Lines of credit are more for businesses with good credit and a solid financial history.  Therefore to qualify with Upwise, you only need 4 months of business history.  If you are looking for a larger dollar amount, please ask one of our funding specialists about adding collateral or securing the retail loan with invoices or account receivables.  

The maximum credit limit amount, introductory term of the credit line, and repayment terms depend on your business’s revenues, credit rating, tradeline history, time in business, and other factors. 

Financing Companies For Retailers

When it comes to financing companies for retailers, it’s important to choose a good lender who understands your industry.  You can go to a traditional bank or credit union to see if they will approve your business.  The other option is online lenders like Upwise Capital.  Those who specialize in retail lending or retail store financing will be able to underwrite and approve your business in the shortest amount of time.  

Documents Needed to Apply for a Retail Business Loan

  • Completed Application
  • Driver’s License
  • Voided Business Check
  • Business Bank Statements (Last 6 Months)
  • Credit Score

You may also be requested to provide the following for larger dollar amounts over $100K or if a secured line of credit:

  • Balance sheet
  • Profit & Loss Statements
  • Business Tax Returns
  • Personal Tax Returns
  • Account Receivables Report (if securing AR)
  • Inventory List (if securing inventory)

*See above for business line of credit requirements. 

Retail Funding Solutions

Small business retail loans are easy to secure.  It only takes a few minutes to apply, and Upwise will present you with options.

Applying won’t impact your credit score.

We make it easy, simply apply online and we’ll be in touch to go over your options.

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Retail Business Loans

can be used for 
Employees
Inventory.
Payroll.
Purchases.

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